Author: GlobeNewswire

Article content

EDINBURGH, United Kingdom, April 01, 2025 (GLOBE NEWSWIRE) — Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to announce that the Limekiln Wind Farm and all its turbines are operational. Limekiln Wind Farm, located near Thurso in Caithness, is the Corporation’s flagship project in Scotland and its first operational site in the United Kingdom, with an installed capacity of 106 MW.

Article content

Article content

Article content

“I am extremely proud of the Boralex team, whose expertise and dedication over the past few years have enabled us to reach this historic milestone for the company today,” said Patrick Decostre, President and CEO. “The UK is a key geography in achieving our growth and diversification objectives, and the operation of Limekiln Wind Farm enables us to strengthen our strategic position in the UK, while contributing to the global energy transition.”

“The operational phase announced today is a major step towards achieving our ambition of increasing our portfolio of ready-to-build and operational renewable energy assets in the UK, a market with high development potential, to 1 GW by 2030,” said Nicolas Wolff, Senior Vice President and General Manager, Europe. “It is also the result of valuable consultation work with local communities carried out by our teams, who have been present on the ground since the very first stages of the project.”

Article content

Article content

Limekiln Wind Farm consists of 24 Vestas V136-4.5MW wind turbines, measuring 150m to the tip of the blade. Apart from zero-carbon electricity, the wind farm will also deliver a full package of social, economic and environmental benefits, including biodiversity enhancements such as a native species planting scheme and a peat restoration programme, as well as a Community Benefit Fund of over £500,000 annually for the life of the project.

This project benefits from a government-backed 15-year Contract for Difference (CfD) that will start in April 2028. Boralex has entered into a power purchase agreement (PPA) with Statkraft, one of the leading PPA providers in the UK, to cover the period between commissioning of the wind farm, and the beginning of the CfD.

Article content

In addition, the project offers local employment opportunities: the site’s operation would support at least 8 direct jobs and around 50 indirect jobs. Lastly, the wind farm will provide sufficient electricity to meet the needs of around 100,000 British homes every year, based on the average generation mix of UK power sources.

For more information, please visit the Limekiln Wind Farm page on our website.

Boralex accelerates its development in the United Kingdom

The operation of Limekiln Wind Farm comes at a time of strong growth for Boralex in the UK. Since 2023, the Company has expanded its team from 10 to 23 renewable energy professionals and aims to recruit more than a dozen new employees by the end of the year in all departments. Two major milestones were reached in the past year, with the closing of financing and the signing of the Corporate PPA for Limekiln Wind Farm. Boralex also acquired the Sallachy (wind – up to 50 MW) and Clashindarroch Extension (wind – 145 MW and storage – 50 MW) projects. Boralex opened a new office in Ringwood, in the south of England, in January 2025, allowing it to continue its growth in this region and in Wales.

Article content

Caution Regarding Forward-Looking Statements

Some of the statements contained in this press release are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular forward-looking statement. Unless otherwise specified by the Company, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.

Article content

About Boralex

At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have development activities and production facilities in the United States and the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. Our pipeline of projects and growth path total over 8 GW in wind, solar and electricity storage projects. We develop those projects guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

Article content

For more information, visit boralex.com or sedarplus.com. Follow us on Facebook and LinkedIn.

For more information

Source: Boralex inc.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d9ca4d0-9894-41e3-9bb7-e3a68e59e4b5

Article content

Article content

Quarterly Adjusted EBITDA of $1.9 Million in Q4, a $4.9 Million Improvement YoY

Article content

Article content

Annual Adjusted EBITDA of $(0.2) Million in 2024, a $12.8 Million Improvement YoY

Gross Margins of 76% in Q4, up 3600 bps YoY

TORONTO, March 31, 2025 (GLOBE NEWSWIRE) — Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSX: EGLX), a leading gaming media and entertainment company, today announced financial results for the three months (“Q4 2024”) and year ended December 31, 2024 (“FY 2024”).

Article content

“2024 was a milestone year for Enthusiast Gaming, as we repositioned the business for long-term, high-margin growth,” said Adrian Montgomery, Interim CEO of Enthusiast Gaming. “By streamlining operations and enhancing monetization, we have established an efficient, scalable model that delivers stronger returns. With this solid foundation in place, our focus is now on audience expansion—spending more time with more gamers across our owned and operated properties. As we enter 2025, we are positioned to drive sustained growth by deepening engagement and maximizing the value of our gaming ecosystem.”

“The Company’s realignment towards higher-margin, owned and operated revenue streams and a significantly reduced cost base has established a strong financial foundation, including profitability, expanded gross margins, and growing operating leverage,” said Alex Macdonald, Chief Financial Officer of Enthusiast Gaming. “With this structure in place, we are now focused on scaling revenue in ways that accelerate EBITDA growth and drive free cash flow. Every user is more valuable under our current monetization structure, and audience expansion is a key operational focus for 2025. We are also investing in our direct sales team to reestablish it as a meaningful driver of high-margin, top-line revenue growth. With this foundation, the business is structured for efficient growth and increasing EBITDA contribution at scale.”

Article content

Financial Highlights for Q4 2024

• Revenue of $17.8 million, compared to $47.1 million in Q4 2023, with the vast majority of the decline being attributable to the strategic deprioritization of the low margin video platform revenue.
• Gross profit of $13.5 million, compared to $18.9 million in Q4 2023, with gross margin expanding to 76% from 40% in the year ago period.
• Operating expenses of $15.6 million, a $12.2 million year-over-year decrease from $27.8 million in Q4 2023 as a result of strategic initiatives taken to establish an efficient and scalable operating model throughout FY2024.
• Adjusted EBITDA profit of $1.9 million, a $4.9 million improvement compared to an Adjusted EBITDA loss of $3.0 million in Q4 2023
• Net loss and comprehensive loss of $80.1 million in Q4 2024 compared to $40.8 million in Q4 2023. Net and comprehensive loss in Q4 2024 includes non-cash impairment charges of $81.9 million (Q4 2023 – $38.0 million).

Article content

Article content

Business Highlights for Q4 2024

• Subscription Growth: Led by The Sims Resource, the leading custom content and community site for players of The Sims franchise, the Company has seen continuous subscriber growth through Q4 and year-to-date in Q1 2025, reversing first-half declines in FY 2024 and driving new record subscriber counts for the Company. March 2025 will mark the tenth consecutive month of growth in the subscriber base, which has seen over 25,000 subscribers joining the platform during that time frame.
• Platform Engagement and Audience Growth: The Company’s key owned and operated properties saw sustained engagement and continued year-over-year growth, with overall web pageviews across all web properties increasing to 1.8 billion in Q4 2024 compared to 1.5 billion in Q4 2023, despite both the sale of certain of the Company’s legacy casual gaming properties in April 2024 and the Company’s intentional deprioritization of third-party-owned, low-margin network sites throughout 2024. The Company saw material contributions to this growth from its core property Icy Veins, the Company’s leading site for Blizzard games and ARPG enthusiasts, which saw record user activity on the site from both the continued impact of Blizzard’s World of Warcraft expansion: The War Within, and Blizzard’s October launch of the Diablo IV expansion: Vessel of Hatred, as well as significant contributions from sites like PocketGamer.com, which doubled its traffic over the course of 2024 and continues to grow as the go-to destination for mobile game news, guides, tier lists, and reviews. In addition, the Company’s leading data and insights platform, U.GG, saw consistent and significant growth in its proprietary applications through 2024, now achieving more than 2.5 million downloads in the aggregate between its League of Legends and Valorant applications, capturing greatly enhanced user retention, engagement and monetization from converted users as compared to the web property.
• Direct Sales: Q4 2024 brought multiple new clients to the Enthusiast roster, including White Claw, Johnson & Johnson, Raising Cane’s and Sargento, while also continuing to service a strong roster of returning clients like Amazon, Ampm, Coca-Cola, Disney, Lego, Mattel, Netease, Paramount, RBC, Square Enix, State Farm, Toyota, Warner Brothers, and Xbox. In addition, the Company has continued to bolster its direct sales team with the addition of new sellers, as well as Bob Lonigro as VP of Sales, with a goal to achieve an average ramped seller headcount in 2025 approaching the levels in 2023.
• Event Growth and Engagement: The Company’s B2B mobile games event series, PocketGamer Connects, continued to entrench itself as the industry leading conference series for mobile gaming professionals and industry participants, hosting PGC Helsinki in October 2024 and PGC London, its largest event ever by all relevant metrics, including attendance, sponsors, speakers and company representation, being held in January 2025.
• Luminosity Gaming’s Event Success: Luminosity Gaming hosted its second invitational Super Smash Bros. Ultimate event of the year drawing over 600,000 hours watched and peaking at 60,000 concurrent viewers during the grand finals, demonstrating Luminosity’s continued strength as a leading esports brand that can deliver high-engagement content for fans and valuable exposure for sponsors, while also serving as a core execution arm for our direct sales team. Luminosity has also expanded its game coverage to include strategically relevant titles such as League of Legends and Marvel Rivals. These expansions will enhance the user and fan experience through the cross-platform amplification of these audiences across the Company’s owned and operated properties like U.GG, which is the number one League of Legends data and insights platform in North America and has recently expanded its coverage to include a best-in-class product for Marvel Rivals, a title which has seen significant and continued success in recent months.

Article content

Fourth Quarter 2024 Results Comparison

Revenue was $17.8 million in Q4 2024, a 62% decrease compared to $47.1 million in Q4 2023. Media and Content revenue was $12.8 million in Q4 2024, a 70% decrease from $42.6 million in Q4 2023. The Company’s strategic decision to de-prioritize the lower margin video platform revenue accounted for $24.1 million of the $29.8 million reduction in Media and Content revenue. Direct Sales (the majority of which is included in media and content revenue) decreased from $13.2 million in Q4 2023 to $5.9 million in Q4 2024 mainly due to a lower number of ramped sellers than the year ago period, contributing $7.3 million to the decline in revenue. Esports and Entertainment revenue increased to $2.0 million from $1.2 million in Q4 2023, mainly due to an increase in live events in Q4 2024 as compared to Q4 2023. Subscription revenue decreased from $3.3 million in Q4 2023 to $2.9 million in Q4 2024 largely due to the sale of certain non-core, non-profitable assets in April 2024.

Article content

Gross profit was $13.5 million in Q4 2024, a 29% decrease compared to $18.9 million in Q4 2023. Gross margin increased to 76% in Q4 2024 from 40% in Q4 2023.

Operating expenses decreased to $15.6 million in Q4 2024, a 44% decrease from $27.8 million in Q4 2023.

Adjusted EBITDA profit was $1.9 million in Q4 2024 compared to an Adjusted EBITDA loss of $3.0 million in Q4 2023.

Net loss was $83.6 million, or $(0.53) per share, in Q4 2024, compared to $39.7 million, or $(0.26) per share, in Q4 2023.

Full Year 2024 Results Comparison

Revenue was $72.6 million in 2024, a 59% decrease compared to $178.2 million in 2023. Media and Content revenue was $51.3 million in 2024, a 67% decrease from $154.8 million in 2023. The Company’s strategic decision to de-prioritize the lower margin video platform revenue accounted for $79.4 million of the $103.5 million reduction in Media and Content revenue. Direct Sales (the majority of which is included in media and content revenue) decreased from $41.7 million in 2023 to $21.4 million in 2024 mainly due to a lower number of ramped sellers than the year ago period, contributing $20.3 million to the decline in revenue. Esports and Entertainment revenue increased to $8.5 million in 2024 from $8.3 million in 2023. Subscription revenue decreased from $15.0 million in 2023 to $12.9 million in 2024 in part due to change in mix of subscribers and lower subscriber count during portions of the year on The Sims Resource and in part due to the sale of certain non-core, non-profitable assets in April 2024.

Article content

Gross profit was $49.1 million in 2024, a 27% decrease compared to $67.4 million in 2023. Gross margin increased to 68% in 2024 from 38% in 2023.

Adjusted EBITDA loss was $0.2 million in 2024 compared to an Adjusted EBITDA loss of $13.0 million in 2023.

Net loss $96.0 million, or $(0.61) per share, in 2024, compared to $117.7 million, or $(0.77) per share, in 2023.

Organizational Updates

The Company is pleased to announce that Alex Gonzalez has been promoted to Chief Marketing Officer for the Company, reflecting his broad range of responsibilities for the Company’s creator talent, go-to-market strategy, campaign development and overall marketing efforts across the Company. Alex has been a valued member of the leadership team at Enthusiast Gaming for the past three years, having previously served as Head of Luminosity, as well as SVP of Talent, Gaming and Marketing.

Article content

Investor Conference Call

Management will host a conference call and webcast on Monday, March 31, 2025, at 5 p.m. ET to review and discuss its Q4 and full-year 2024 results. Conference call details:

  Conference ID: 10197864

A replay will be available on Enthusiast Gaming’s website at enthusiastgaming.com/investors.

Supplemental Information

Enthusiast Gaming’s financial statements and management discussion and analysis (“MD&A”) are available at www.sedarplus.ca and enthusiastgaming.com/investors. All amounts are in Canadian dollars.

Article content

About Enthusiast Gaming

Enthusiast Gaming is a leading gaming media and entertainment company, building the largest platform for video game enthusiasts and esports fans to connect and compete worldwide. Combining the elements of its four core pillars: creators, content, communities, and experiences, Enthusiast Gaming provides a unique opportunity for marketers to create integrated brand solutions to connect with coveted Gen Z and Millennial audiences. Through its proprietary mix of digital media, content and gaming assets, Enthusiast Gaming continues to grow its network of communities, reflecting the scale and diversity of gaming enthusiasts today.

Forward-Looking Statements

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Enthusiast Gaming anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements in this news release include, but are not limited to, statements regarding trends in certain financial and operating metrics of the Company, and expectations relating to the financial performance and the financial results of future periods.

Article content

Forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions concerning: interest and foreign exchange rates; capital efficiencies, cost saving and synergies; growth and growth rates; the success in the esports and gaming media industry; the Company’s growth plan, and judgment applied in the application of the Company’s accounting policies and in the preparation of financial statements in accordance with applicable financial reporting standards. While Enthusiast Gaming considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast Gaming which are available on SEDAR+ at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Article content

Non-GAAP Measures

This press release references certain non-GAAP measures, including Adjusted EBITDA, as described below. These non-GAAP measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those GAAP measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS.

The Company uses non-GAAP measures including:

Article content

“EBITDA”, which is defined as earnings before interest, taxes, depreciation and amortization. Enthusiast Gaming calculates EBITDA using gross margin less total operating expenses plus share-based compensation and amortization and depreciation; and

“Adjusted EBITDA”, which is defined as EBITDA adjusted for severance and other non-recurring public company costs. These non-recurring costs include, but are not limited to, annual Nasdaq listing fees and annual directors and officers (“D&O”) liability insurance associated with the Company’s former listing on Nasdaq. Adjusted EBITDA also excludes “NFL TNG EBITDA” which is defined as EBITDA attributable to the Company’s NFL TNG program during Q4 2024, as the program became non-recurring due to its termination.

Article content

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the exchange) accepts responsibility for the adequacy or accuracy of this release.

Article content

Article content

Article content

Contacts Enthusiast Gaming: Alex Macdonald, Chief Financial Officer Investors: investor@enthusiastgaming.com Media: press@enthusiastgaming.com

Article content

Article content

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Article content

Article content

TORONTO, March 31, 2025 (GLOBE NEWSWIRE) — Eloro Resources Ltd.
(TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro” or the “Company”) is pleased to announce that the best efforts private placement as announced by the Company on March 27, 2025 (the “Marketed Offering“) is oversubscribed and fully allocated. Under the Marketed Offering, the Company intends to raise aggregate gross proceeds of up to C$5,000,000 from the sale of up to 5,263,158 units of the Company (the “Units”) at a price of C$0.95 per Unit (the “Offering Price”). Red Cloud Securities Inc. is acting as lead agent and sole bookrunner on behalf of a syndicate of agents including CIBC World Markets Inc., Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the “Agents”) in connection with the Offering (as defined below).

Article content

Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$1.40 at any time on or before that date which is 36 months after the Closing Date (as herein defined).

The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to sell up to an additional 1,052,632 Units at the Offering Price for up to an additional C$1,000,000 in gross proceeds (the “Agents’ Option“, and together with the Marketed Offering, the “Offering”).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), up to 5,894,737 Units that may be sold under the Offering (the “LIFE Units”) will be offered for sale to purchasers in all of the provinces of Canada other than Québec (the “Canadian Selling Jurisdictions”) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The Unit Shares and Warrant Shares underlying the LIFE Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

Article content

Article content

All other Units sold under the Offering (the “Non-LIFE Units”) may be issued to: (i) purchasers in the Canadian Selling Jurisdictions pursuant to the “accredited investor” and “minimum amount investment” exemptions under NI 45-106, and (ii) purchasers outside of Canada, including to purchasers resident in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended. The Unit Shares and Warrant Shares issuable from the sale of any Non-LIFE Units to (i) Canadian purchasers will be subject to a hold period in Canada ending on the date that is four months plus one day following the Closing Date, and (ii) to purchasers outside of Canada may be subject to resale restrictions in such jurisdictions outside of Canada pursuant to the securities laws of such jurisdictions. Purchasers are advised to consult their own legal advisors in this regard.

Article content

The Company intends to use the net proceeds of the Offering for continued exploration and development of the Iska Iska project in southern Bolivia as well as general corporate purposes and working capital.

The Offering is scheduled to close on April 8, 2025 (the “Closing Date”), or such other date as the Company and the Agents may agree. Completion of the Offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.elororesources.com. Prospective investors should read this offering document before making an investment decision.

Article content

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Eloro Resources Ltd.

Article content

Eloro is an exploration and mine development company with a portfolio of precious and base-metal properties in Bolivia, Peru and Québec. Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. An NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of the Lagunas Norte Gold Mine and the La Arena Gold Mine.

Article content

For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company (forward-looking statements in this news release include, without limitation, statements regarding the closing of the Offering, the anticipated closing date of the Offering and the intended use of proceeds from the Offering). There can be no assurance that forward-looking statements will prove to be accurate or that (i) the Company will be able to complete the Marketed Offering on the terms set out above, or at all, or (ii) that the proceeds of the Offering will be expended as contemplated. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information. The Company does not intend to update any such forward-looking information, except in accordance with applicable laws.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Article content

Article content

edgeTI invites individual and institutional investors, as well as advisors and analysts, to attend online at VirtualInvestorConferences.com

Article content

Article content

ARLINGTON, Va., March 27, 2025 (GLOBE NEWSWIRE) — Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5i), a leading provider of real-time digital twin software, today announces that Jim Barrett, CEO, will present live at the AI and Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com on April 3^rd.

Article content

DATE: April 3^rd, 2025
TIME: 3:00 PM ET
LINK: Register Here

Available for follow-up 1×1 meetings: April 4^th and 6^th

This will be a live, interactive online event inviting investors to ask the company questions in real-time. If attendees cannot join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

Why learn more about edgeTI?

• Atypical Investment Opportunity via Early Public TSXV, OTCQB, & FSE: Compared to the estimated digital twin market and percentage of adoption, edgeTI and the entire market is early stage, yet edgeTI brings an investment opportunity typically not available to retail investors and small groups.
• Active in High-Growth AI-Adjacent Market: Digital Twin Market is projected to grow at 61.3% by MarketsandMarkets. Certain Digital Twins, like edgeTI edgeCore™, are AI adjacent and orchestrate and safeguard AI use in complex use cases.
• Proven Solution to Latent Delay and Waste in Enterprises and Government: edgeCore targets the intractable problem of delays in switching between marginally connected siloed systems and data. Proven in global enterprises and government, edgeCore resolves the chaos, with fluid, engaging data-driven actionability to deliver the right data and best action in one platform at the speed of relevance.
• Driving Progress with Visionary Leadership and Advisory Council: edgeTI’s work in the Digital Twin market has been acknowledged by Gartner, S & P Global, and CB Insights. Newly formed Industry Advisory Council of luminaries and proven operators in defense, national security, cybersecurity, energy, logistics, environmental and construction accelerate digital twin awareness, adoption, and best practices.
• Unique Low-risk Approach Crushes Barriers to Adoption and Limits Digital Sprawl: Rather than leading with massive data projects or ripping and replacing legacy systems to add even more data stores and mega apps, edgeCore disrupts the standard approach to unite data sources and technology assets to accelerate value.

Article content

Article content

Recent Company Highlights:

• edgeTI Provided Update edgeCore Client Proxy (ECP) Progress Focusing on ITSM, Middleware, Cyber Security, and National Defense. ECP enhances integration across various business and AI applications, reflecting edgeTI’s commitment to real-time digital operations and AI-driven Digital Twins.
• edgeTI enlisted B. Riley Securities, Clear Street, and Sichenzia Ross Ference Carmel LLP to assist in exploring a potential listing on the NASDAQ stock exchange. This strategic move aims to lower the company’s cost of capital, access institutional investment, and align with its significant U.S.-based operations.

About Edge Total Intelligence (“edgeTI”)
edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applications and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform’s low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.

Article content

Website: https://edgeti.com
LinkedIn: www.linkedin.com/company/edgeti

YouTube: www.youtube.com/user/edgetechnologies

About Virtual Investor Conferences® “VIC”
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Article content

CONTACTS:
Edge Total Intelligence
Nick Brigman, Analyst and Press Relations
Phone: 888-771-3343
Email: ir@edgeti.com

Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

Forward-Looking Information and Statements
Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Article content

Article content

MONTREAL, March 25, 2025 (GLOBE NEWSWIRE) — HPQ Silicon Inc. (“HPQ” or the “Company”) (TSX-V: HPQ, OTCQB: HPQFF, FRA: O08), a technology company specializing in green engineering of processes would like to update shareholders on an important milestone regarding the ongoing pilot-scale testing of HPQ Silica Polvere Inc. (“HSPI”) ^[1] proprietary Fumed Silica Reactor (FSR) process.

Article content

Article content

HSPI’s technology provider, PyroGenesis Inc. (TSX: PYR, OTCQX: PYRGF, FRA: 8PY1) (“PyroGenesis”), has reported the completion of a detailed examination and analysis of material produced during the first batch test of the Fumed Silica Reactor (FSR) pilot plant (February 27, 2025). The results confirm morphological characteristics and overall appearance are closely consistent with those first observed in the initial series of lab-scale tests. This validation enables HSPI to confidently plan the implementation of the necessary pilot plant process improvements needed to produce commercial-grade fumed silica.

Article content

“During our lab-scale testing, we implemented crucial process improvements that enabled us to achieve commercial-quality material,” said Bernard Tourillon, President & CEO of HPQ Silicon and HPQ Silica. “With the pilot plant now producing material with visual morphological characteristics align with our earlier lab-scale results,
we’re more confident than ever in our ability to replicate—and even accelerate—this success. Having clearly identified how to refine our approach, we’re positioned to quickly advance toward commercial-grade production with the FSR.”

This milestone directly supports the advancement of the FSR by establishing a clear technical foundation for the next phase of development. This detailed analysis will inform the process enhancements required to produce commercial-grade fumed silica consistently. Also, the validation is integral to HSPI’s structured approach to scaling its proprietary technology from lab-scale experimentation to pilot-scale implementation.

“Since 1944, the fumed silica industry has relied on conventional, fossil-fuel-intensive production methods. PyroGenesis is committed to breaking that cycle through innovation,” said P. Peter Pascali, President and CEO of PyroGenesis Inc. “Our Fumed Silica Reactor technology represents a revolutionary shift—scaling up a plasma-based process that eliminates carbon emissions while maintaining superior product quality. By decarbonizing this industry, we are enhancing efficiency, thereby setting a new standard for sustainable, commercially viable fumed silica production. This empowers HSPI’s clients with a cleaner and more reliable process.”

Article content

Article content

Other news

HPQ would like to inform shareholders that M. Robert Robitaille, a director of the Corporation since June 2008, has made the difficult decision to resign due to health reasons, effective immediately.

M. Robitaille has been a valued member of HPQ’s Board of Directors for 17 years, playing a significant role in the company’s transformation from a mining company into a technology company.

“We are deeply grateful for M. Robitaille’s contributions to HPQ over the years. His vision and leadership have left a lasting impact, and we fully support his decision to prioritize his health. We wish him a full and speedy recovery so that he may enjoy his well-deserved retirement,” said Bernard Tourillon, Chairman and CEO of HPQ Silicon Inc.

REFERENCE SOURCES

About HPQ Silicon

HPQ Silicon Inc. (TSX-V: HPQ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer.

HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions.

Article content

HPQ activities are centred around the following five (5) pillars:

For more information, please visit HPQ Silicon web site.

About PyroGenesis Inc.

PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis’ shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY). www.pyrogenesis.com 

Article content

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the security’s regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders. 

Source: HPQ Silicon Inc.

For further information contact:

Bernard J. Tourillon, Chairman, President, and CEO Tel +1 (514) 846-3271
Email: Info@hpqsilicon.com

Article content

Article content

MONTREAL, March 25, 2025 (GLOBE NEWSWIRE) — Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX.V: GMA) is pleased to announce the closing of a non-brokered private placement (the “Offering”) of 12% unsecured convertible debentures (the “Convertible Debentures”) in an aggregate principal amount of $2,022,761. In addition, the Corporation has filed an application with the TSX Venture Exchange (the “TSXV”) to approve the repricing and extension of a total of 4,354,667 warrants (the “Warrant Extension”) that will be expiring on May 3, 2025.

Article content

Article content

Article content

“The Offering was led by Michael Gentile, a leading investor in the junior resource sector and several other new institutional investors, family offices, corporations and long term shareholders from Canada, USA and Australia. The use of proceeds from this financing are the continuation of the construction of the rare earth magnet recycling demonstration plant and engineering of the new laboratories in the Saint-Hubert facility. An update on the two main corporate activities, the demonstration plant and the bauxite residues valorization technology, will be provided soon. We appreciate the patience and the support of our existing shareholders and would like to welcome the new investors to Geomega as we further derisk our sustainable technologies for waste valorization and production of bulk and critical metals,” commented Kiril Mugerman, President & CEO of Geomega.

The Offering

The Convertible Debentures have a three (3) year maturity date and bear an interest of 12% per annum, with interest payable annually in arrears. The principal amount of the Convertible Debentures will be convertible, for no additional consideration, into common shares of the Corporation at the option of the holder at any time prior to the maturity date at a price of $0.12 per share. The Corporation may satisfy interest owing on the Convertible Debentures from time to time by the issuance of common shares at a price per common share of no less than the 20 day volume weighted average trading price (VWAP) of its common shares on the TSXV at the time the interest becomes payable or upon a change of control, the whole in accordance with applicable TSXV rules. The Convertible Debentures shall be senior unsecured debt obligations of the Corporation in that they shall be senior to all other unsecured indebtedness of the Corporation and subject only to such permitted indebtedness and permitted liens in accordance with terms of the Convertible Debentures.

Article content

Article content

The Convertible Debentures will not be listed on any stock exchange, though the Corporation has received the conditional approval of the TSXV to list the common shares issuable upon conversion of the Convertible Debentures on the TSXV. The Convertible Debentures (and any common shares issuable upon conversion thereof) are subject to a four-month and one day statutory hold period under applicable Canadian securities laws, ending July 25, 2025.

The Warrant Extension

The Corporation has filed with the TSXV a request to extend and reprice a total of 4,354,667 warrants that will be expiring on May 3, 2025. The warrants were issued in connection with a private placement which closed in May 2022. The following table summarizes the original and proposed new terms of the warrants:

As per Section 3.3 of TSXV Policy 4.1, the extended and repriced warrants will have an acceleration clause stipulating that if the share price of the Corporation on the TSXV trades higher than 25% above the Modified Exercise Price (each a “Premium Trading Day”) for 10 consecutive days during the term of the warrants, the exercise period will be reduced to 30 days beginning no more than seven calendar days after the tenth Premium Trading Day. All other terms of the warrants will remain the same. The extension and repricing of the warrants are subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSXV.

Article content

About Geomega (www.geomega.ca)

Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies.

As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process.

Article content

Geomega’s process is based around its proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably and safely.

Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America and holds over 16.8M shares, representing approximately 13% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for copper projects in Quebec, Canada.

For further information, please contact:

Kiril Mugerman
President and CEO
Geomega
514-223-1449 ext. 3
kmugerman@geomega.ca

Nancy Thompson
Vorticom Public Relations
212-532-2208
nancyt@vorticom.com
Twitter: @Geomega_REE

Cautions Regarding Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2024, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Article content

Article content

VANCOUVER, British Columbia, March 21, 2025 (GLOBE NEWSWIRE) — Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) has released its 24^th annual Sustainability Report, highlighting the company’s 2024 performance in key areas, including support for communities, Indigenous Peoples, health and safety, diversity and climate. 

Article content

Article content

“This report details our environmental and social performance as we focus on responsibly delivering the critical minerals the world needs for economic growth and energy security,” said Jonathan Price, President and CEO.

Article content

Teck’s 2024 Sustainability Report is prepared in accordance with the Global Reporting Initiative (GRI) Standards for the period January 1–December 31, 2024. The report has also been prepared in accordance with the Sector Standard GRI 14: Mining and Metals Sector 2023 and is aligned with the Sustainability Accounting Standards Board (SASB) Standards.

Our report is in conformance with the member requirements of the International Council on Mining and Metals (ICMM), including the implementation of the ICMM Mining Principles, and any mandatory requirements and corporate-level aspects set out in the Position Statements and the Performance Expectations (PE). Disclosure related to our validation of the ICMM PE can be found here. Teck is also in conformance with the Mining Association of Canada’s Towards Sustainable Mining (MAC TSM) Protocols. Disclosure related to our self-assessments and verification on the TSM Protocols can be found on the MAC TSM website.

For the full report, please click here. Other reports, including the 2024 Annual Report are also available on our Disclosure Portal. 

Article content

About Teck
Teck is a leading Canadian resource company focused on responsibly providing metals essential to economic development and the energy transition. Teck has a portfolio of world-class copper and zinc operations across North and South America and an industry-leading copper growth pipeline. We are focused on creating value by advancing responsible growth and ensuring resilience built on a foundation of stakeholder trust. Headquartered in Vancouver, Canada, Teck’s shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor Contact:
Emma Chapman
Vice President, Investor Relations
+44.207.509.6576
emma.chapman@teck.com

Media Contact:
Dale Steeves
Director, External Communications
236.987.7405
dale.steeves@teck.com

Article content

Article content

CALGARY, Alberta, March 20, 2025 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to report its financial and operating results for the three months and year ended December 31, 2024. Dollar amounts are expressed in United States dollars, with the exception of Canadian dollar unit prices (“C$”) where indicated and otherwise noted.

Article content

Article content

Highlights for the three months and year ended December 31, 2024

• Adjusted EBITDAX increased 43% and 25% to $76.1 million and $296.1 million for the three months and year ended December 31, 2024, respectively, compared to $53.1 million and $236.8 million for the same periods in 2023, respectively. The increase is mainly due to an increase of natural gas and liquefied natural gas (“LNG”) operating netback, offset by a decrease in realized contractual natural gas and LNG sales volume.
• Adjusted funds from operations increased 68% and 43% to $52.1 million and $209.4 million for the three months and year ended December 31, 2024, respectively, compared to $31.0 million and $146.3 million for the same periods in 2023, respectively, mainly due to an increase in EBITDAX.
• The Corporation’s natural gas and LNG operating netback increased 39% and 32% to $6.12 per Mcf and $5.41 per Mcf for the three months and year ended December 31, 2024, respectively, compared to $4.39 per Mcf and $4.11 per Mcf for the same periods in 2023, respectively. The increase is due to an increase in average sales prices, net of transportation expenses, offset by an increase in royalties.
• Total revenues, net of royalties and transportation expenses for the three months and year ended December 31, 2024 increased 23% and 16% to $98.3 million and $352.3 million, respectively, compared to $79.7 million and $304.9 million for the same periods in 2023, respectively, mainly due to higher average sales price, net of transportation expenses of $7.81 per Mcf and $6.99 per Mcf for the three months and year ended December 31, 2024, respectively, compared to $6.04 per Mcf and $5.41 per Mcf for the same periods in 2023, offset by a decrease in realized natural gas and LNG sales volume.
• Realized contractual natural gas sales volume decreased 4% and 12% to 158.0 MMcfpd and 156.7 MMcfpd for the three months and year ended December 31, 2024, respectively, compared to 164.8 MMcfpd and 178.3 MMcfpd for the same periods in 2023, respectively.
• The Corporation realized a net loss of $25.4 million and $32.7 million for the three months and year ended December 31, 2024, respectively, compared to a net income of $29.9 million and $86.2 million for the same periods in 2023, respectively. The decrease in net income for the three months and year ended December 31, 2024 is the result of recognizing a non-cash deferred income tax expense of $28.9 million and $77.2 million for the three months and year ended December 31, 2024, respectively, as compared to a non-cash deferred income tax recovery of $31.7 million and $103.6 million in 2023, respectively, offset by an increase in EBITDAX.
• Net cash capital expenditures for the three months and year ended December 31, 2024 was $28.6 million and $122.3 million, respectively, compared to $72.2 million and $215.2 million for the same periods in 2023, respectively. The decrease is due to reduced spending on land and seismic, workovers, and drilling and completion.
• As at December 31, 2024, the Corporation had $79.2 million in cash and cash equivalents and $45.5 million in working capital surplus.

Article content

Outlook

In 2025, the Corporation is focused on:

1. Maintaining and growing Canacol’s EBITDA generation and reserves via both higher commodity pricing and investment in drilling, workover, and new facilities projects;
2. Exploring higher impact gas exploration opportunities in the Lower Magdalena Valley (“LMV”);
3. Reducing debt;
4. Laying the groundwork to be able to commence operations in Bolivia in 2026; and
5. Continue the Corporation’s commitment to its ESG strategy.

The Corporation expects that commodity pricing will remain strong for the remainder of 2025, and for this reason, in 2025, the Corporation lowered its take-or-pay volumes to maximize exposure to the spot sales market. In line with maintaining and growing Canacol’s reserves and production in its core assets in the LMV, the Corporation plans to optimize its production and increase reserves by drilling up to 11 exploration and three development wells, installing new compression and processing facilities as required, and completing workovers of producing wells in its key gas fields. These development and exploration activities are planned to support the Canacol’s robust EBITDA generation and allow the Corporation to capitalize on strong gas market dynamics in 2025. Planned development wells include the Clarinete-11, Siku-2 and Lulo-3 wells, all of which have already been successfully drilled and brought on production as of the date of this release. The exploration drilling plan includes 10 gas exploration wells in the LMV and one gas and condensate exploration well in the Middle Magdalena Valley (“MMV”). Notable exploration wells in the LMV include continuing operations at Natilla-2.

Article content

Article content

Over the last several years, the Corporation has assembled a significant acreage position in the MMV and in 2025, the Corporation plans to drill the Valiente prospect targeting a large shallow structure located approximately five kilometers to the south and up dip of the Opon gas field discovered in 1965 by Cities Services and later developed by Amoco in 1997.

The Corporation is also continuing its efforts with respect to the Pola exploration project located in the MMV. Pola is a large prospect targeting gas within Cretaceous aged reservoirs at depths close to 17,000 feet. Given the relatively high cost of the well, the Corporation is currently evaluating its options with respect to how to proceed with the project.

In Bolivia, the Corporation is awaiting ratification and formalization by Congress of three exploration contracts (Arenales, Ovai, and Florida Este) and one field redevelopment contract (Tita) in order to establish the effective date of all four contracts. The Corporation is currently preparing to apply for the environmental permit for Tita, along with formulating development plans, in order to commence field reactivation activities in 2026.

Article content

FINANCIAL & OPERATING HIGHLIGHTS

(in United States dollars (tabular amounts in thousands) except as otherwise noted)

Article content

^{(1) Non-IFRS measures – see “Non-IFRS Measures” section within the MD&A.}

This press release should be read in conjunction with the Corporation’s audited consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”). The Corporation has filed its audited consolidated financial statements and related MD&A as at and for the year ended December 31, 2024 with Canadian securities regulatory authorities. These filings are available for review on SEDAR+ at www.sedarplus.ca.

Canacol is a natural gas exploration and production company with operations focused in Colombia. The Corporation’s shares are traded on the Toronto Stock Exchange under the symbol CNE, the OTCQX in the United States of America under the symbol CNNEF, the Bolsa de Valores de Colombia under the symbol CNEC.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “target”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur, including without limitation statements relating to estimated production rates from the Corporation’s properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Information and guidance provided herein supersedes and replaces any forward looking information provided in prior disclosures. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation. Other risks are more fully described in the Corporation’s most recent Management Discussion and Analysis (“MD&A”) and Annual Information Form, which are incorporated herein by reference and are filed on SEDAR+ at www.sedarplus.ca. Average production figures for a given period are derived using arithmetic averaging of fluctuating historical production data for the entire period indicated and, accordingly, do not represent a constant rate of production for such period and are not an indicator of future production performance. Detailed information in respect of monthly production in the fields operated by the Corporation in Colombia is provided by the Corporation to the Ministry of Mines and Energy of Colombia and is published by the Ministry on its website; a direct link to this information is provided on the Corporation’s website. References to “net” production refer to the Corporation’s working-interest production before royalties.

Article content

Use of Non-IFRS Financial Measures – Such supplemental measures should not be considered as an alternative to, or more meaningful than, the measures as determined in accordance with IFRS as an indicator of the Corporation’s performance, and such measures may not be comparable to that reported by other companies. This press release also provides information on adjusted funds from operations. Adjusted funds from operations is a measure not defined in IFRS. It represents cash provided (used) by operating activities before changes in non-cash working capital and the settlement of decommissioning obligation, adjusted for non-recurring charges. The Corporation considers adjusted funds from operations a key measure as it demonstrates the ability of the business to generate the cash flow necessary to fund future growth through capital investment and to repay debt. Adjusted funds from operations should not be considered as an alternative to, or more meaningful than, cash provided by operating activities as determined in accordance with IFRS as an indicator of the Corporation’s performance. The Corporation’s determination of adjusted funds from operations may not be comparable to that reported by other companies. For more details on how the Corporation reconciles its cash provided by operating activities to adjusted funds from operations, please refer to the “Non-IFRS Measures” section of the Corporation’s MD&A. Additionally, this press release references Adjusted EBITDAX and operating netback measures. Adjusted EBITDAX is defined as consolidated net income adjusted for interest, income taxes, depreciation, depletion, amortization, exploration expenses and other similar non- recurring or non-cash charges. Operating netback is a benchmark common in the oil and gas industry and is calculated as total natural gas, LNG and petroleum sales, net transportation expenses, less royalties and operating expenses, calculated on a per barrel of oil equivalent basis of sales volumes using a conversion. Operating netback is an important measure in evaluating operational performance as it demonstrates field level profitability relative to current commodity prices. Adjusted EBITDAX and operating netback as presented do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures for other entities.

Article content

Operating netback is defined as revenues, net transportation expenses less royalties and operating expenses.

Realized contractual sales is defined as natural gas and LNG produced and sold plus income received from nominated take- or-pay contracts without the actual delivery of natural gas or LNG and the expiry of the customers’ rights to take the deliveries.

Net cash capital expenditures is defined as capital expenditures net of dispositions, excluding non-cash costs and adjustments such as the addition of right-of-use leased assets and change in decommissioning obligations.

The Corporation’s LNG sales account for less than one percent of the Corporation’s total realized contractual natural gas and LNG sales.

Boe Conversion – The term “boe” is used in this news release. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of cubic feet of natural gas to barrels oil equivalent is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In this news release, we have expressed boe using the Colombian conversion standard of 5.7 Mcf: 1 bbl required by the Ministry of Mines and Energy of Colombia. As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 5.7 Mcf:1, utilizing a conversion on a 5.7 Mcf:1 basis may be misleading as an indication of value.

For further information please contact: Investor Relations South America: +571.621.1747 IR-SA@canacolenergy.com Global: +1.403.561.1648 IR-GLOBAL@canacolenergy.com http://www.canacolenergy.com

Article content

Article content

VANCOUVER, British Columbia, March 18, 2025 (GLOBE NEWSWIRE) — B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce the Phase 2 expansion of the Fekola Solar Plant is complete and operational.

Article content

Article content

B2Gold commenced construction of the Phase 2 Solar Plant expansion in June 2023 with initial land clearing and road construction, and ramped up to physical equipment construction in February 2024. The expansion of the Fekola Solar Plant was completed in the fourth quarter of 2024 and became operational in January 2025. The Phase 2 expansion included the construction of an additional 46,200 solar panels, increasing the total panel count of the Fekola Solar Plant to 142,912.

Article content

At the peak of construction, over 120 local jobs were generated, and 13 individuals have been trained and employed to maintain the Fekola Solar Plant expansion area following completion. The Company also engaged with a local drilling company for services throughout the construction period, generating employment for local workers.

Operating at full capacity, the expansion to the Fekola Solar Plant will provide an additional 22 megawatts (“MW”) of solar capacity (52 MW total capacity) and 12.7 megawatt-hours (“MWh”) of battery capacity (27.7 MWh total capacity). The expanded Fekola Solar Plant is expected to reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO₂e) and reduce the annual consumption of heavy fuel oil (“HFO”) by an estimated 20 million liters. The expanded Fekola Solar Plant is expected to supply approximately 30% of the site’s total electricity demand and is considered to be one of the largest off-grid solar/HFO hybrid power plants in the world.

Ken Jones, Director of Sustainability for B2Gold, commented, “The expansion of the Fekola Solar Plant is a significant initiative in support of B2Gold’s emission reduction target. The expanded facility will allow the Fekola site team to turn off the HFO plant for a portion of the day during times of sufficient solar radiation, a tremendous achievement for B2Gold and a testament to our commitment to implementing renewable energy solutions.”

Article content

Article content

B2Gold continues to investigate and implement new and existing renewable energy sources to power operations globally and is actively pursuing additional decarbonization initiatives in an effort to mitigate climate risks and to progress towards achieving the Company’s target of a 30% reduction in Scope 1 and 2 greenhouse gas emissions by 2030 against a 2021 baseline. For details on how B2Gold takes action to manage its climate impacts and climate-related risks, please refer to the 2023 Climate Strategy Report located at www.b2gold.com.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland. B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”                                        
President and Chief Executive Officer                               

Article content

Source: B2Gold Corp.

The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.

Production guidance presented in this news release reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 14, 2024, for a discussion of our ownership interest in the mines B2Gold operates.

This news release includes certain “forward-looking information” and “forward-looking statements” (“collectively forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation, including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets on a consolidated and mine by mine basis; future or estimated mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing; statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and including, without limitation: total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025; the Company reducing its GHG emissions by 30% by 2030 against a 2021 baseline; the expanded Fekola Solar Plant reducing annual emissions by approximately 63,000 tonnes of CO2e; the expanded Fekola Solar Plant reducing the annual consumption of heavy fuel oil by an estimated
20 million liters; and the expanded Fekola Solar Plant supplying approximately 30% of the site’s total electricity demand. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.

Article content

Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold’s control, including risks associated with or related to: the volatility of metal prices and B2Gold’s common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving production, cost or other estimates; actual production, development plans and costs differing materially from the estimates in B2Gold’s feasibility and other studies; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; the ability to replace mineral reserves and identify acquisition opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including potential restrictions imposed on B2Gold’s operations as a result thereof and the ability to generate sufficient cash flows; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Mali, Namibia, the Philippines, Canada, and Colombia and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; the lack of sole decision-making authority related to Filminera Resources Corporation, which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for B2Gold’s operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; compliance with anti-corruption laws, and sanctions or other similar measures; social media and B2Gold’s reputation; risks affecting Calibre having an impact on the value of the Company’s investment in Calibre, and potential dilution of our equity interest in Calibre; as well as other factors identified and as described in more detail under the heading “Risk Factors” in B2Gold’s most recent Annual Information Form, B2Gold’s current Form 40-F Annual Report and B2Gold’s other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the “SEC”), which may be viewed at www.sedar.com and www.sec.gov, respectively (the “Websites”). The list is not exhaustive of the factors that may affect B2Gold’s forward-looking statements.

Article content

B2Gold’s forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to B2Gold’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

Article content

B2Gold’s forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

For more information on B2Gold please visit the Company website at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Corporate Development +1 604-681-8371 investor@b2gold.com  Cherry DeGeer Director, Corporate Communications +1 604-681-8371 

Article content